Virtu Financial LLC Acquires Shares of 18,425 Paramount Global (NASDAQ:PARA)

Virtu Financial LLC bought a new position in shares of Paramount Global (NASDAQ:PARA) during the 3rd quarter, HoldingsChannel reports. The fund bought 18,425 shares of the company’s stock, valued at approximately $196,000.

A number of other hedge funds also recently modified their holdings of the stock. Blue Trust Inc. grew its stake in Paramount Global by 162.8% during the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after buying an additional 1,573 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after acquiring an additional 1,561 shares during the period. Atlas Capital Advisors LLC acquired a new stake in shares of Paramount Global during the 2nd quarter worth approximately $35,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Paramount Global during the 2nd quarter worth approximately $43,000. Finally, Kennebec Savings Bank bought a new position in Paramount Global in the third quarter valued at approximately $47,000. Institutional investors own 73.00% of the company’s stock.

Paramount Global Price Performance

Shares of NASDAQ:PARA opened at $10.68 on Thursday. The firm has a market cap of $7.12 billion, a PE ratio of -1.30, a price-to-earnings-growth ratio of 1.35 and a beta of 1.71. Paramount Global has a 52 week low of $9.54 and a 52 week high of $16.28. The firm’s fifty day moving average is $10.83 and its 200-day moving average is $10.83. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.24 by $0.25. The firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 EPS. Sell-side analysts predict that Paramount Global will post 1.86 earnings per share for the current year.

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s payout ratio is presently -2.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Macquarie restated an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Finally, Guggenheim dropped their target price on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Seven analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.43.

About Paramount Global

Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands.